India, US expected to reach tentative trade deal

Indian government sources said that negotiators from India and the United States have made progress, with a focus on market access for industrial and some agricultural products, tariff reductions, and non-tariff barriers. India and the United States are expected to reach an interim trade agreement by the end of this month. Sources said that the two sides discussed increasing bilateral digital trade by improving customs and trade facilitation measures, and added, "negotiations will continue" in order to reach the initial stage of a trade agreement soon. Officials also added that the next stage of negotiations may address more complex issues, with the goal of signing the first part of a bilateral trade agreement by September or October. One source said that India rejected the US's request to open its market for wheat, dairy products, and corn imports, while providing lower tariffs for high-value American products such as almonds, pistachios, and walnuts. India also asked the US to remove the 10% basic tariff. However, the US side opposed this and pointed out that even the UK must comply with this requirement in the recently signed bilateral trade agreement.